Celestica (NYSE:CLS) Price Target Increased to $72.00 by Analysts at BMO Capital Markets

Celestica (NYSE:CLS) (TSE:CLS) had its price objective increased by BMO Capital Markets from $64.00 to $72.00 in a research note released on Thursday morning, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

CLS has been the topic of several other reports. StockNews.com lowered shares of Celestica from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Royal Bank of Canada increased their target price on Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Canaccord Genuity Group boosted their price target on Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, July 26th. TD Securities increased their price objective on Celestica from $61.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Stifel Nicolaus raised shares of Celestica from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Monday, September 9th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Celestica presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.67.

Celestica Stock Performance

Shares of CLS stock opened at $69.38 on Thursday. The stock has a fifty day moving average price of $52.42 and a 200 day moving average price of $52.35. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.47. The stock has a market cap of $8.24 billion, a PE ratio of 25.89 and a beta of 2.28. Celestica has a 1 year low of $20.87 and a 1 year high of $70.07.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.11. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.41 billion. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The business’s revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.65 EPS. Sell-side analysts forecast that Celestica will post 3.22 earnings per share for the current fiscal year.

Institutional Trading of Celestica

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Optimum Investment Advisors lifted its holdings in shares of Celestica by 66.7% during the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after acquiring an additional 200 shares during the period. Financial Management Professionals Inc. purchased a new position in Celestica during the third quarter worth approximately $30,000. UMB Bank n.a. acquired a new position in shares of Celestica in the 3rd quarter valued at $34,000. Wolff Wiese Magana LLC grew its stake in shares of Celestica by 32.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock valued at $40,000 after buying an additional 170 shares during the period. Finally, Global Trust Asset Management LLC acquired a new stake in shares of Celestica during the 3rd quarter worth $51,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

About Celestica

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.